Penn Capital Management Co. Inc. increased its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 129.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,091 shares of the bank’s stock after acquiring an additional 8,512 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in SVB Financial Group were worth $2,690,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SIVB. BlackRock Inc. boosted its position in shares of SVB Financial Group by 16,192.8% during the first quarter. BlackRock Inc. now owns 4,539,004 shares of the bank’s stock worth $844,664,000 after acquiring an additional 4,511,145 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in shares of SVB Financial Group by 17,141.0% during the second quarter. Harbour Capital Advisors LLC now owns 1,389,972 shares of the bank’s stock worth $7,907,000 after acquiring an additional 1,381,910 shares during the last quarter. Credit Agricole S A boosted its position in shares of SVB Financial Group by 924.5% during the first quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock worth $44,547,000 after acquiring an additional 1,018,151 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of SVB Financial Group by 41.9% during the second quarter. JPMorgan Chase & Co. now owns 2,134,833 shares of the bank’s stock worth $375,282,000 after acquiring an additional 629,917 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of SVB Financial Group by 7.0% during the first quarter. Vanguard Group Inc. now owns 4,205,626 shares of the bank’s stock worth $782,624,000 after acquiring an additional 275,274 shares during the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Shares of SVB Financial Group (SIVB) traded up 0.03% during midday trading on Friday, hitting $179.12. 24,403 shares of the stock traded hands. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 21.77 and a beta of 1.61. SVB Financial Group has a 12-month low of $104.84 and a 12-month high of $198.83. The company’s 50 day moving average price is $172.02 and its 200-day moving average price is $178.69.

SVB Financial Group (NASDAQ:SIVB) last announced its earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.27. The company had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $451.96 million. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.78 EPS. On average, equities research analysts expect that SVB Financial Group will post $8.99 EPS for the current year.

In other news, insider Philip C. Cox sold 3,024 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total transaction of $552,787.20. Following the transaction, the insider now owns 2,872 shares of the company’s stock, valued at approximately $525,001.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eric Benhamou sold 2,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $172.01, for a total transaction of $344,020.00. Following the transaction, the director now directly owns 6,672 shares in the company, valued at approximately $1,147,650.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,524 shares of company stock worth $1,534,052. Corporate insiders own 0.73% of the company’s stock.

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A number of equities research analysts recently issued reports on SIVB shares. Zacks Investment Research downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Wedbush reaffirmed a “neutral” rating and set a $192.00 price target on shares of SVB Financial Group in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $195.00 price target on shares of SVB Financial Group in a research note on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $216.00 price target on shares of SVB Financial Group in a research note on Friday, August 11th. Finally, BidaskClub downgraded shares of SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $202.75.

About SVB Financial Group

SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.

Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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